Scared to Invest? This App Gives You up to $2,300 in Free Stock
Are you new to investing? Or are you an experienced trader who keeps tabs on the stock market?
Either way, there’s an app you ought to check out. It’s called Webull, and it’s a commission-free stock trading platform that’s super easy to use.
Since it launched in 2018, Webull has been growing fast and now has more than 10 million members. It’s offering new users a cool incentive: two completely free shares of stock.
If you sign up and open an account, you get two free stocks, each valued from $2.50 to $250. Afterward, if you deposit $100 into your Webull account, you get two more free stocks, each of them with a value ranging from $8 to $2,300. It’s like a lottery. You might suddenly find yourself getting a $2,300 stock for free — a nice bonus to help you build your investments!
Try It Out with $1 Million of Fake Money First
If you’re not quite ready to dive in head-first with this whole investing thing, you can try out Webull with the equivalent of digital Monopoly money. You can see for yourself how it works, without the risk of losing any of your real money.
It’s called “paper trading.” Webull will put a million fake dollars’ worth of virtual money in your account. You can practice with a stock trading simulator and test out different strategies. If you earn a lot of fake money through your amazing investing genius, that’s cool. On the other hand, if you go big and take chances and lose a ton of fake money, it’s no biggie.
For Newbies or Advanced Investors
Once you’re ready to invest real money, Webull is super easy to use, no matter your level of experience. Plus, there’s no minimum investment required for you to get started. You can start as small or as big as you want.
There are no commission fees, so you can buy and sell stocks without commissions cutting into your profits. You can also invest in ETFs, exchange-traded funds, which are collections of hundreds or thousands of stocks and bonds.
If you’re a newbie, you can keep it simple. If you’re a more experienced investor, Webull has a whole roster of widgets and tools and intuitive charts you can use to decide what to invest in, and a homepage that you can customize for your own needs. Interested in cryptocurrency? You can even use WeBull to trade Bitcoin, Bitcoin Cash, Ethereum and Litecoin with no commission and real-time data. It has way more features than Robinhood, which is probably its biggest competitor.
Webull also offers ways to help you learn. It has online seminars and a Webull online community, where you can interact with other users and chat about potential investment opportunities.
If you want to do more advanced stuff, like options trading, short selling, extended-hours trading, stop orders, covered calls, cash-secured puts, advanced quotes or margin trading, Webull’s got you covered. It’s even offering a free three-month subscription to Nasdaq Totalview – Level 2, the premier data feed for serious traders.
But if you have no idea what any of that means, that’s fine, too!
You don’t have to know that stuff. There’s no need to get overwhelmed with a bunch of technical stuff.
Is Webull safe to use? Yes. Your financial information is encrypted, and your deposits are insured. Customer support options include phone support and 24/7 chat.
Whether you’re a new investor or an experienced one, it’s easy to get started with Webull. Put $100 in your Webull account, and see if you can score $2,300 in free stock.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.